Agilent Technologies reported fiscal second-quarter 2026 results (February–April 2026) with revenue of $1,835 million (+10.0%), operating income of $399 million (+33.0%), and net income of $339 million (+57.7%). GAAP diluted EPS jumped to $1.20 from $0.75 in the year-ago quarter, a 60% increase.
However, these headline numbers require important context. On a core basis (excluding currency and M&A), revenue grew just 6.3% — the gap between the reported +10.0% and core +6.3% is largely attributable to foreign exchange tailwinds. The market-facing metric, non-GAAP EPS, rose 14% to $1.49, and non-GAAP operating margin expanded 130 basis points to 26.4%. The 58% GAAP net income surge was materially boosted by a reversal in other income (reduced equity investment impairments), which accounts for roughly one-third of the headline improvement.
On March 6, Agilent announced the $950 million all-cash acquisition of Biocare, a U.S. clinical and research diagnostics solutions company, which is expected to become the next growth catalyst for its Life Sciences and Diagnostics segment.
